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G8 leaders announce tax evasion measures

  • Leaders of the G8 on Tuesday agreed on new measures aimed to tackle money launderers, illegal tax evaders and corporate tax avoiders.

    The Group of Eight agreed to share information on their residents' tax affairs.

    The measures will also require shell companies, often used to take advantage of tax havens and loopholes and invest money anonymously, to reveal their rightful owners.

    Tax, trade and transparency, known as "The Three Ts", were at the top of the UK's agenda for its presidency of the G8, which also includes the United States, Germany, France, Italy, Russia, Canada and Japan.

    Tagged as: Business news, tax evasion, G8 tax evasion measures